Feds offer loans to farmers affected by drought

Feds offer loans to farmers affected by drought.
LEE COUNTY, Fla. – Drought relief is in sight for local farmers — and we’re not talking about rain.
The loans are also offered to most private nonprofit organizations.
The disaster declaration includes the following counties: Baker, Brevard, Broward, Charlotte, Collier, Duval, Glades, Hendry, Indian River, Lake, Lee, Martin, Nassau, Orange, Okeechobee, Osceola, Palm Beach, Polk, Saint Lucie, Seminole and Volusia.
Droughts like these are game changers for former Red Sox outfielder Mike Greenwell, who owns 31 Produce.
"We’re using much more water than we’ve ever used," he said.
The cost to water his crops is costing Greenwell four times as much.
"Financially, it doesn’t even out," says Paige Greenwell.
Under the declaration, the SBA’s disaster loans apply to those effected starting March 21.
Interest rates for private nonprofit organizations are 2.5 percent and 3.150 percent for small businesses with terms of up to 30 years.

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